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By Tanmay Tiwary Mar 21, 2023 7:56:57 PM IST (Published)
The estimated value of Letter of Award is $20 million or Rs 165 crore. Furthermore, the primary term is proposed to be 5 years commencing from the date of readiness of Svetha Venetia to receive hydrocarbons from PY3 Field, it revealed.
Asian Energy Services Limited (AESL), on Tuesday said it has received a Letter of Award (LoA) from Svetah Energy Infrastructure FZE, UAE, for the Operations & Maintenance works (O&M) of the floating production storage and offloading system (FPSO), Svetah Venetia.
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The system is to be deployed for production of Oil and Gas in the offshore area of contract area CY-OS-90/1 (PY3 Field) in Puducherry, according to a statement by ASEL.
The estimated value of Letter of Award is $20 million or Rs 165 crore. Furthermore, the primary term is proposed to be 5 years commencing from the date of readiness of Svetha Venetia to receive hydrocarbons from PY3 Field, it revealed.